The Economic Offences Wing (EOW) of Delhi Police has arrested Moshin Mohammed, a 36-year-old man, for allegedly cheating homebuyers in a fraudulent property deal. The case involves the sale of a property located in Daryaganj that was mortgaged to a private bank. Mohammed reportedly sold flats built on this mortgaged land without informing the buyers about the outstanding mortgage, accumulating a total of Rs 13 crore through these fraudulent sales.
The case was registered after the private bank filed a complaint in October 2021, accusing Mohammed of criminal breach of trust and conspiracy under sections 406, 409, 420, and 120-B of the IPC. Investigations revealed that M.K. Overseas Pvt. Ltd., a meat export company previously run by Mohammed, had secured a credit facility worth Rs 95 crore from the bank in 2016 by mortgaging property at 19C, Ansari Road, Daryaganj.
Between March 2018 and May 2019, Mohammed allegedly facilitated the construction of multiple flats on the mortgaged land and sold them to unsuspecting buyers, defrauding them without revealing the property’s encumbrance.
Further investigation uncovered that Mohammed had also withdrawn Rs 3.33 crore from an account opened at a cooperative bank for personal use and had taken measures to evade authorities by frequently changing his mobile numbers and using SIM cards under false names.
On March 26, following technical surveillance, Mohammed was located and arrested at a hotel in Nizamuddin (West). During his interrogation, he reportedly admitted to embezzling company funds and has been linked to several other fraudulent cases, including ongoing investigations by the Enforcement Directorate and police in Gautam Buddha Nagar, Uttar Pradesh.
Mohammed was a director at M.K. Overseas Pvt. Ltd., where he secured loans worth approximately Rs 300 crore by mortgaging several properties. As the company faced financial decline, Mohammed allegedly resorted to fraudulent methods to divert and misappropriate funds.
The investigation is ongoing, with authorities seeking to uncover more details about the extent of the fraud and any additional victims involved.
